Hong Kong dollar

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Hong Kong dollar is the currency of Hong Kong Special Administrative Region of the People's Republic of China. In accordance with Sino-British Joint Declaration and Hong Kong's Basic Law, Hong Kong maintains autonomy in some aspects of governance, including the right to issue currency. The official ISO 4217 code is HKD (Hong Kong Dollar), but often referred to as HK$.

Since 1983, the Hong Kong dollar has been pegged to the US dollar. Note-issuing banks could issue any number of Hong Kong dollars at a rate of 7.80 Hong Kong dollar against the U.S. dollar, by submitting the U.S. dollars to the HKMA to be accounted in the Exchange Fund and receiving Certificates of Indebtedness before printing. In this way, U.S. dollars in the Exchange Fund maintain the stabile value of the Hong Kong dollar.